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BNP Paribas boosts Spain securities services

SPAIN - BNP Paribas Securities Services has appointed the chief executive for the integrated securities services arm of Santander Central Hispano Investment SA as deputy general manager in Spain - a new role.

The appointment of Luis Colín underlines BNP Paribas’ plans to grow in the Spanish market, said Alvaro Camuñas, head of location for BNP Paribas Securities Services in Spain.

Based in Madrid, Colín is also going to be head of clearing, settlement and custody (CSC) and reports locally to Camuñas and Jon Lloyd, global head of clearing, settlement and custody.

Colín, who started on October 18, told IPE that he would be helping set the strategy on securities services. He also said that as well as continuing to play a role in Spain, he also looked forward to playing in the “global arena”.

Camuñas said: “His appointment confirms BNP Paribas Securities Services’ commitment to the growth of our business in Spain, and the consolidation of our leadership position in the Spanish market.”

Lloyd added: "We are seeing a significant amount of corporate activity initiated in the Spanish market with European-wide impacts. This will create product development opportunities across the spectrum of securities services that Luis and the team will be well positioned to leverage."

BNP Paribas Securities Services said that as of June 2004 it held over 2 trillion euro in assets under custody and 260 billion euro in assets under administration.

Santander Central Hispano was unavailable for comment.

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